AM Online

MVRA seals deal with Capita Group

Motor trade body and accident management business MVRA has been sold to insurance underwriter Capita Group for an undisclosed sum.

Mike Monaghan, chief executive of the MVRA, said the group needed to find a partner in order to deliver its proposed membership benefits. The MVRA provides specialist support to organisations involved in the repair of motor vehicles, including repairers, MoT testers, insurers, government departments and governmental agencies. Most recently, it established a consultancy service for bodyshops considering the BSI/Thatcham Kitemark and quality standard.

It will become part of Capita’s Insurance Services division, which provides insurance services to the insurance industry.

Monaghan said: “The deal has fundamentally enhanced our capacity to service our key markets. Our plans are ambitious, but we believe as part of Capita we now have the long term security and capability to make a real difference to businesses working within this market.”

He added that MVRA staff would now have the opportunity to grow their skills and careers over the long term as part of the Capita Group.

Richard Holland, managing director, Capita Insurance Services, said: “Growing Capita’s presence in the United Kingdom motor trade motor support and services sector is a key objective and we firmly believe that MVRA provides unrivalled experience-based knowledge and a high quality, market-leading proposition.”

Holland also believes the MVRA will be able to go forward throughout 2007 with support from Capita’s resources.

Monaghan led a management buy-out of the MVRA in 2004. He was backed in that venture by investor, Broker Assistance, and then became CEO. He will keep his position under the ownership of Capita, but is no longer a principle shareholder.

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.